Monday, March 15, 2010

Investors from Kuching, Sibu and Bintulu lodge reports against firm

Tuesday March 16, 2010Investors from Kuching, Sibu and Bintulu lodge reports against firmBy STEPHEN THEN

stephenthen@thestar.com.my

MIRI: Some 300 Sarawakians have been cheated of more than RM5mil in total after they invested their life savings in a “super-profitable” multi-level company that supposedly has its headquarters in Singapore.

The company, which uses the slogan “The wisdom to create wealth”, is believed to have closed shop after pocketing their money since early last year.

The group’s spokesman, Philip Chin, said they had already lodged police reports in Miri, Kuching, Sibu and Bintulu. “The investors from Sarawak invested a combined sum of more than RM5mil into the company.

“We understand that there are also people in the peninsula who have lodged reports against the same firm.

“We are appealing to police and the SUPP to help us locate the people who are behind the company. They are holding our money. We cannot locate them in Sarawak,” he said.

Chin said the firm advertised its investment schemes, cosmetic and health products in newspapers early last year and set up an office in Miri.

“It then established branches in Kuching, Sibu and Bintulu and sought investors for its investment packages, where those who banked in money to the company would get incentives and special products and privileges, such as cosmetic treatment as well as commissions and monthly income.

“Last year, the company paid out some financial dividends but closed shop after that. We tried to contact them over the past six months but the staff members here have moved away.

“The company’s signboard is still in front of the Miri shop but there is a different person operating a totally different business,’’ he said.

Chin said the SUPP would liaise with the Commercial Crimes Department on the case.